Taiwan placed 12th out of 141 economies surveyed around the globe in the World Economic Forum's latest Global Competitiveness Report released Oct. 9, 2019, moving up one position from the previous report.

Receiving a score of 80.2 out of 100, Taiwan finished fourth in Asia. The top 11 economies globally were Singapore, the United States, Hong Kong, the Netherlands, Switzerland, Japan, Germany, Sweden, the United Kingdom, Denmark and Finland.

Among the 12 categories used to evaluate competitiveness, Taiwan earned full marks in macroeconomic stability and outperformed in financial system with 88. It was also lauded as a "super innovator" by the WEF and one of only four economies, along with Germany, the U.S. and Switzerland, to receive more than 80 in innovation capability.

National Development Council Minister Chen Mei-ling said the result demonstrates international recognition of Taiwan's reputation as a smart country and can-do problem solver. Recent investment in Taiwanese startups from companies based in Japan, Singapore and the U.S. further illustrates this healthy state of affairs, she added.

According to Chen, the government will prioritize fostering an even more vibrant startup environment, as well as deepening the talent pool and strengthening the education sector. These steps are expected to ensure Taiwan's long-term competitiveness and keep it firmly on the development fast track, she said.

Date：2019-10-15 

Source: National Development Council Website, Liberty Times, Commercial Times